Josh Sigurdson does another Freedom Minute update, this time on the recent finding of a survey by Credit Karma showing that only 0.04% of Bitcoin users actually reported their gains or losses to the IRS. 100 out of 250,000 filers.
This doesn’t come as a surprise to most of us. Of course taxation is theft and cryptocurrencies are great ways to decentralize. Why would everyone run to the IRS to beg them to steal their money?
No matter how much FUD is spread in the news with fake stories about regulations, bans and taxation regarding cryptocurrencies, it’s futile. People can see through it. The laws surrounding cryptocurrencies are largely unenforceable. Individual demand reigns in the decentalized cryptoworld.
This is also good news for cryptocurrencies from another angle. Everyone was concerned leading up to tax day in the United States that everyone would dump their cryptos to pay taxes. Well apparently that’s simply not the case.
As establishment elites attack Bitcoin all while buying it and attempt to manipulate markets in order to maximize profits, we are at a turning point in the road for cryptos. We have been given time to think not of greed, but of the great possibilities cryptocurrencies provide. To decentralize life rather than speculate on crazy profits. This is an important moment. Bitcoin dodged the death cross recently and actually saw support on it which we had previously predicted. Now what comes next is unknown but there sure is a lot of renewed bullish interest.
Stay tuned as we continue to cover this subject!
Video edited by Josh Sigurdson
Graphics by Bryan Foerster and Josh Sigurdson
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No One Reporting Bitcoin To The IRS – Taxation Is Theft! (Freedom Minute)